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A strategic partnership agreement was signed between Umm Al Quwain Properties and Deyaar Development to develop projects on the Umm Al Quwain waterfront. The signing was witnessed by Sheikh Ahmed bin Saud bin Rashid Al-Mualla, Vice President of the Executive Council of Umm Al Quwain. Sheikh Majid bin Saud bin Rashid Al-Mualla and Mr. Saeed Mohammed Al Qatami, CEO of Deyaar Development, signed the agreement. The partnership aims to enhance modern infrastructure and promote sustainable tourism, aligning with Umm Al Quwain's strategic plan to enrich the tourism experience. Mr. Saeed Mohammed Al Qatami emphasized the goal of creating innovative residential spaces that balance modern living with nature.
Sukoon Insurance PJSC, with a paid-up capital of AED 461,872,125, is regulated by the Central Bank of the UAE. On February 17, 2025, the company's Board of Directors passed a resolution by circulation to approve the annual corporate governance report for the financial year 2024. This information was communicated to Mr. Hamed Ahmad Ali, the Executive Chief Officer of the Dubai Financial Market, and a copy was sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.
Shuaa Capital PSC held its postponed general assembly meeting today, where the company's shareholders voted and approved several resolutions. One key decision was to issue mandatory convertible bonds with a total value of 150 million AED. These bonds, referred to as "new investor mandatory convertible bonds," will be issued in accordance with Federal Decree-Law No. 32 of 2021 on Commercial Companies and a decision by the Chairman of the Securities and Commodities Authority. The bonds are intended for professional investors and counterparties and will be mandatorily convertible into new company shares at a conversion price of 0.32 AED per share.
On February 17, 2025, a communication was issued involving H.E. Waleed Saeed Al Awadhi, CEO of the Securities and Commodities Authority, and Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market. The subject was the results of a resolution passed by circulation by the Board of Directors of the Dubai Financial Market (PJSC) concerning an internal matter. This follows a company disclosure made on February 13, 2025. The document is associated with Ali Amer Al-Hashimi, the Chief Financial Officer, and includes a Docusign Envelope ID.